Overview
If you have leases with ownership transfer or reasonably certain purchase option, they are to be depreciated over their economic life, which is typically longer than the lease term. (The concept is that because you will own the asset at the end of the lease, you can continue to use and depreciate it over the full economic life.) Once the lease expires, the lease no longer appears on regular accounting reports in EZLease; however, you can use this report to track the amortization after the lease expires until the end of its economic life.
Note: This report is not available if the option “Report depreciation after lease expiration” is unchecked in System Options.
Report Options
| Report title | Enter any title you want to give to the report. The type of report is always displayed at the top left corner; you can use this title to describe the report |
| Detail/Totals |
You may get lease by lease detail, or just the totals for all leases. |
| Group of leases to use |
You may choose All leases, a Group of leases starting with the same character(s), or a Single lease. If you choose Single lease, a popup displays the leases in the file; choose the one you want. If you choose Group, you are prompted for the beginning character(s) to search for. This search is case-sensitive; if you want a case- insensitive match, use the Special Options lease number selection option. Other groups can also be selected in Special Options. |
| Output to |
Preview/PDF You can create a text report that displays on the screen (and which can then be exported in HTML, PDF, Rich Text Format (.rtf), Microsoft Word® (.doc), Microsoft Excel® (.xls or .xlsx), and Crystal Reports (.rpt) formats). Please note that the Excel output exported from a text report is laid out the same way as the text report, which is generally not well-suited for sorting and otherwise manipulating the data inside Excel. If you export a text report, please wait for the “Export completed successfully” message to display before continuing with EZLease. If you have several hundred or more leases, text reports can take a long time to display; EZLease warns you if your report is likely to be more than 500 pages. Spreadsheet (.xlsx) You can also create spreadsheet output. This is specifically designed to manipulate inside a spreadsheet program; a lease (or report period) is displayed on a single line, so you can select, sort, and sum results. The same information is provided as on the text report, but the layout is considerably different to facilitate data manipulation. As a general rule, the spreadsheet format includes all the fields shown in the text layout, as well as all primary descriptive fields if you have chosen the “Descriptive fields in all spreadsheet output” System Option; any other differences are noted in the individual report description below. If you select spreadsheet output, you are prompted to specify an output filename. In System Options, you can select whether the spreadsheet output should be generated as an Excel .xls/.xlsx file or as an XML-format spreadsheet. When specifying an output file name, you also have the option to create a text-only comma-delimited file (.csv). Output in Excel format requires that you have a licensed copy of Excel on your computer. The .xlsx output format is only available if you have Excel 2007 or later; if you do, EZLease remembers whether you last used the .xlsx or .xls file format. If you are creating Excel output, please do not use Excel for other purposes while a report is being created, as it can confuse Excel. |
| Starting date | Enter the beginning day of the first period of the report. |
| Ending dates |
Fixed If you want one or more whole calendar periods: Months, Quarters (3 months), Years, or 28-day periods. Fiscal Use fiscal periods (calendar months or 4- or 5-week periods based on your company’s calendar). Variable If you want to enter each report end date.
Note: If you choose Fixed, select which type of period (months, quarters, years, or 28-day periods) and how many of those periods you want. The end date of the last report period is automatically calculated and displayed. The default is 1 month. You may enter up to 999 periods. |
Report Output
Only leases that are in their extended depreciation period (after lease expiration, but before end of economic life) are included on this report. By definition, all leases listed are finance.
For each lease, the right-of-use asset is shown, with the accumulated depreciation on the date the lease expired, current period depreciation expense, and accumulated depreciation at the end date of the report.
If the lease expiration date is during a report period, an extra line is displayed noting this fact and the amount of asset that is being carried over from leased to owned assets.
You are permitted to enter an early termination any time up to the end of the economic life. If you do so, and the early termination date is during the report period, the report shows the amount of termination loss due to the premature termination and writing off of the asset. If you enter a correction termination, the reversal of activity goes only back to the expiration of the lease and affects only the depreciation; it is not possible to reverse the actual lease activity through a correction termination dated after the lease expires.
Related links
Report depreciation over economic life | Amortization Method | Amortization Schedule (Finance)